Information  X 
Enter a valid email address

Workplace Tech PLC (WPL)

  Print      Mail a friend

Friday 17 September, 1999

Workplace Tech PLC

Offer Partly Unconditional

WORKPLACE TECHNOLOGIES PLC
17 September 1999


Not for release, distribution or publication in or into the United States of
America, Canada, Australia or Japan. This announcement is not an extension of
a tender offer or an offer of securities for sale in or into the United States
of America, Canada, Australia or Japan.



NTL Incorporated ('NTL')

Recommended Cash Offer For

Workplace Technologies plc ('Workplace Technologies')



OFFER UNCONDITIONAL AS TO ACCEPTANCES 



NTL announces that by 3:00 p.m. London time on 16 September 1999, NTL had
received valid acceptances of the Offer in respect of 30,734,224 Workplace
Technologies Shares, representing approximately 86.68 per cent of the issued
ordinary share capital of Workplace Technologies. These acceptances include
acceptances pursuant to the irrevocable undertakings to accept the Offer from
the directors and certain other Workplace Technologies Shareholders in respect
of 9,674,179 Workplace Technologies Shares, representing approximately 27.3
per cent of the issued ordinary share capital of Workplace Technologies. In
addition, on 23 August 1999, NTL acquired 1,421,698 Workplace Technologies
Shares, representing approximately 4.0 percent of the issued ordinary share
capital of Workplace Technologies. Accordingly, NTL now owns or has received
valid acceptances for a total of 32,155,922 Workplace Technologies Shares,
representing approximately 90.68 per cent of the issued ordinary share capital
of Workplace Technologies. The Offer therefore has become unconditional as to
acceptances and will remain open for acceptances until further notice.

Commenting on today's announcement, Barclay Knapp, Chief Executive of NTL,
said:

'We are obviously very pleased with this outcome and the reaction from the
Workplace Technologies Shareholders. The response from the employees and
clients of Workplace Technologies to the acquisition has been very supportive.
Since the original announcement, we are even more convinced of the
opportunities for growth that Workplace Technologies offers for the business
services division of NTL. It is an exciting move which augurs well for the
future.'

Save as disclosed above, neither NTL nor any associate, bank, stockbroker,
financial or other professional adviser (or any persons controlling,
controlled by or under the same control as such adviser) of NTL (other than an
exempt market-maker or exempt fund manager), nor any discretionary fund
manager (other than an exempt fund manager) connected with NTL nor any
subsidiary of NTL nor any pension fund of NTL or its subsidiaries held any
Workplace Technologies Shares before the Offer Period or has acquired or
agreed to acquire any Workplace Technologies Shares during the Offer Period.

Definitions used in the Offer Document dated 19 August 1999 have the same
meanings when used in this announcement, unless the context requires
otherwise.

Enquiries:

NTL Incorporated            John Gregg             001 212 906 8440
                            Bret Richter           001 212 906 8440
                            Jeff Wyman             0171 909 2000
                            Alison Smith           01252 402 662/07788 186 154
                            Will Robson            01252 402 661/07050 094 371

Morgan Stanley Dean Witter  John Krumins           0171 425 5000

Workplace Technologies plc  Andrew Vaughan         01782 210 305

Hawkpoint Partners          Christopher Darlington 0171 665 4500
                            Graham Paton           0171 665 4500
       
Morgan Stanley & Co. Limited ('Morgan Stanley Dean Witter'), which is
regulated by The Securities and Futures Authority Limited, is acting for NTL
and for no one else in connection with the Offer and will not be responsible
to anyone other than NTL for providing the protections afforded to customers
of Morgan Stanley Dean Witter nor for giving advice in relation to the Offer.

Hawkpoint Partners Limited ('Hawkpoint Partners'), which is regulated by The
Securities and Futures Authority Limited, is acting for Workplace Technologies
and for no one else in connection with the Offer and will not be responsible
to anyone other than Workplace Technologies for providing the protections
afforded to customers of Hawkpoint Partners nor for giving advice in relation
to the Offer.

The Offer is not being made, directly or indirectly in or into, or by the use
of the mails of, or by any means or instrumentality (including, without
limitation, facsimile transmission, telex and telephone) of interstate or
foreign commerce of, or any facility of a national securities exchange of, the
United States, Canada, Australia or Japan. Accordingly, copies of this
announcement and any other documents relating to the Offer are not being, and
must not be, mailed or otherwise distributed or sent in, into or from the
United States, Canada, Australia or Japan, and persons receiving such
documents (including custodians, nominees and trustees) must not distribute or
send them into such jurisdictions.


                                                                                                                                                                                                                     

a d v e r t i s e m e n t